SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
LITIGATION RELEASE NO. 15917 / September 30, 1998
SECURITIES AND EXCHANGE COMMISSION v. LUIS BULAS, JR.
Civil Action No. 98-2238 CIV-LENARD
SEC FILES FEDERAL CIVIL COMPLAINT AGAINST LUIS BULAS, JR.
The Securities and Exchange Commission ("SEC")
announced that on September 23, 1998 it filed a federal
civil complaint against Luis Bulas, Jr. ("Bulas") in the
Southern District of Florida, seeking a permanent
injunction, an accounting and disgorgement of ill-gotten
gains, and civil penalties, based on allegations that from
approximately March 1995 through October 1997 Bulas
misappropriated more than $700,000 from eleven investors.
According to the SEC's complaint, Bulas, a former registered
representative, offered brokerage services to the public
through his unregistered broker-dealers, JLH Financial
Services, Inc. and J.L. Henry & Company, Inc. The complaint
alleges that Bulas obtained funds from investors on the
false pretense that he would invest their monies in stocks,
mutual funds, secured promissory notes and other
investments. The SEC contends that Bulas employed a variety
of schemes and devices in order to misappropriate investors'
funds, including the creation of false stock certificates
and false purchase confirmation statements. Based upon the
above conduct, the SEC alleges that Bulas violated Section
17(a) of the Securities Act of 1933, Sections 10(b) and
15(a)(1) of the Securities Exchange Act of 1934 and Rule
10b-5 thereunder.